Credit Suisse has signed a three-year multi-million-pound deal with news
and technology group Reuters to expand the bank's online private banking
and wealth management business.
Reuters says it will be working with Credit Suisse to develop a range of
internet-based trading and investment products for private investors.
The agreement includes Credit Suisse getting a licence for Reuters' order
management and routing product, TIBMercury Online.
This product is intended to help Credit Suisse reach new markets and
customers in a shorter timescale than would be possible by providing a
clearer view of customer requirements using the internet.
The agreement expands the existing relationship between the companies.
Reuters has been working with Credit Suisse for the past two years to
develop order routing and management services to create new trading portals
for the bank. The first portal was Credit Suisse's online brokerage service
Youtrade which was launched in April 1999.
Credit Suisse managing director senior adviser Bruno Aschwanden says: “We
chose Reuters to support the realisation of our online banking strategy
because of the skills of their people and the strength of their technology
solution. The TIBMercury Online product allows us to further pursue our
strategy and to provide better and faster services in the area of order
execution and management to our clients.”
Reuters chief operating officer Philip Green says: “This exciting
agreement is an important milestone in our strategic relationship with